Compass Tech adjusts loan interest rate from parent firm

Beijing Compass Technology Development (SZSE:300803) announced it will adjust the interest rate on a CNY 10 million loan provided by its controlling shareholder, Guangzhou Zhanxin Communications Technology. The interest rate will be reduced from 4.2708% to 4.0572% annually, effective April 10, 2025. The change comes after Guangzhou Zhanxin secured a lower interest rate on its own financing, which is collateralized by shares of Beijing Compass. The loan to Beijing Compass will continue to be used for working capital purposes. Guangzhou Zhanxin holds approximately 40.14% of Beijing Compass's shares.